Marathon Digital (NASDAQ:MARA) Shares Gap Down to $19.09

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares gapped down before the market opened on Thursday . The stock had previously closed at $19.09, but opened at $17.92. Marathon Digital shares last traded at $18.63, with a volume of 13,688,526 shares.

Wall Street Analyst Weigh In

MARA has been the subject of a number of analyst reports. Chardan Capital raised their price objective on Marathon Digital from $26.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. raised their target price on Marathon Digital from $16.00 to $16.50 and gave the stock an “underweight” rating in a research note on Wednesday, April 10th. StockNews.com raised Marathon Digital from a “sell” rating to a “hold” rating in a research note on Tuesday. HC Wainwright reissued a “buy” rating and issued a $35.00 price objective on shares of Marathon Digital in a research note on Tuesday, March 19th. Finally, BTIG Research raised Marathon Digital from a “neutral” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.11.

Marathon Digital Stock Performance

The company has a market cap of $5.09 billion, a PE ratio of 22.05 and a beta of 5.36. The company has a quick ratio of 30.51, a current ratio of 30.50 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average of $21.27 and a 200-day moving average of $17.73.

Marathon Digital (NASDAQ:MARA) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). The business had revenue of $156.77 million for the quarter, compared to the consensus estimate of $138.15 million. Marathon Digital had a negative return on equity of 4.61% and a net margin of 48.93%. As a group, analysts anticipate that Marathon Digital Holdings, Inc. will post -0.04 earnings per share for the current year.

Institutional Trading of Marathon Digital

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Marathon Digital by 26.7% in the fourth quarter. Vanguard Group Inc. now owns 23,473,587 shares of the business services provider’s stock valued at $551,395,000 after buying an additional 4,950,392 shares during the period. Hel Ved Capital Management Ltd bought a new stake in shares of Marathon Digital during the 4th quarter valued at $11,531,000. Charles Schwab Investment Management Inc. raised its stake in shares of Marathon Digital by 29.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,823,739 shares of the business services provider’s stock valued at $42,840,000 after purchasing an additional 410,146 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Marathon Digital by 105.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 697,498 shares of the business services provider’s stock valued at $5,929,000 after purchasing an additional 358,220 shares during the period. Finally, Barclays PLC raised its stake in shares of Marathon Digital by 159.2% during the 3rd quarter. Barclays PLC now owns 120,173 shares of the business services provider’s stock valued at $1,021,000 after purchasing an additional 323,134 shares during the period. 44.53% of the stock is currently owned by institutional investors.

Marathon Digital Company Profile

Marathon Digital Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States. The company was formerly known as Marathon Patent Group, Inc and changed its name to Marathon Digital Holdings, Inc in February 2021. Marathon Digital Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida.